This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of these
securities in any state in which such offer, solicitation or sale would
be unlawful prior to the registration or qualification under the
securities laws of any such state. These securities are being offered
pursuant to an effective shelf registration statement previously filed
with the Securities and Exchange Commission, and a preliminary
prospectus supplement and accompanying prospectus describing the terms
of the offering have been filed with the Securities and Exchange
Commission. You may obtain a preliminary prospectus supplement and
prospectus by visiting EDGAR on the SEC website at http://www.sec.gov
or by contacting Merrill Lynch, Pierce, Fenner & Smith Incorporated at
Attn.: Prospectus Department, 222 Broadway, 11th Floor, New York, NY
10038, by calling toll free 1-800-294-1322 or by emailing dg.prospectus_requests@baml.com;
Barclays Capital Inc. at c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, New York 11717, or by calling toll free
1-888-603-5847 or by emailing barclaysprospectus@broadridge.com;
Citigroup Global Markets Inc. at Attn.: Citigroup Prospectus Delivery
Department, Brooklyn Army Terminal, 140 58th Street, 8th floor,
Brooklyn, NY 11220, or by calling toll free 1-800-831-9146 or by
emailing batprospectusdept@citi.com;
Deutsche Bank Securities Inc. at Attn.: Prospectus Group, 60 Wall
Street, New York, NY 10005-2836, or by calling toll free 1-800-503-4611
or by emailing prospectus.CPDG@db.com;
Goldman, Sachs & Co. at Attn.: Prospectus Department, 200 West Street,
New York, NY 10282; or by calling 1-212-902-1171; or J.P. Morgan
Securities LLC at Attn.: HY Syndicate, 383 Madison Avenue, 3rd floor,
New York, NY 10179, or by calling collect 1-212-834-4533.

About Sprint Nextel

Sprint Nextel offers a comprehensive range of wireless and wireline
communications services bringing the freedom of mobility to consumers,
businesses and government users. Sprint Nextel served nearly 56 million
customers at the end of the third quarter of 2012 and is widely
recognized for developing, engineering and deploying innovative
technologies, including the first wireless 4G service from a national
carrier in the United States; offering industry-leading mobile data
services, leading prepaid brands including Virgin Mobile USA, Boost
Mobile, and Assurance Wireless; instant national and international
push-to-talk capabilities; and a global Tier 1 Internet backbone. The American
Customer Satisfaction Index rated Sprint No. 1 among all national
carriers in customer satisfaction and most improved, across all 47
industries, during the last four years. Newsweek ranked Sprint
No. 3 in both its 2011 and 2012 Green Rankings, listing it as one of the
nation’s greenest companies, the highest of any telecommunications
company. You can learn more and visit Sprint at www.sprint.com
or www.facebook.com/sprint
and www.twitter.com/sprint.

Cautionary Note Regarding Forward-Looking Statements

This news release includes “forward-looking statements” within the
meaning of the securities laws. The statements in this news release
regarding Sprint Nextel’s current expectations and beliefs as to the
consummation of the offering of notes and uses of proceeds thereof, as
well as other statements that are not historical facts, are
forward-looking statements. Forward-looking statements are estimates and
projections reflecting management's judgment based on currently
available information and involve a number of risks and uncertainties
that could cause actual results to differ materially from those
suggested by the forward-looking statements. All information set forth
in this release is as of November 8, 2012. Sprint Nextel does not
intend, and undertakes no duty, to update this information to reflect
future events or circumstances. Information about certain potential
factors that could affect our business and financial results and cause
actual results to differ materially from those expressed or implied in
any forward-looking statements are included from time to time in our
filings with the Securities and Exchange Commission, including Part I,
Item 1A “Risk Factors” of our annual report on Form 10-K for the year
ended December 31, 2011 and Part II, Item IA “Risk Factors” of our
quarterly report on Form 10-Q for the quarter ended September 30, 2012.